Chelsea Football Club is currently in discussions with the Premier League officials, aiming to reach a financial settlement over undisclosed payments made during Roman Abramovich's ownership. The club hopes to avoid a points deduction that could potentially affect their league standing.
The issue at hand involves undisclosed payments related to transfers made during Abramovich's tenure as owner of the club. These secret payments came into light when the new owners were in the process of taking over in 2022. They promptly reported these irregularities to the Premier League, hoping their transparency would work in their favor.
Anticipated outcome and previous settlements
An outcome from these negotiations is expected before March ends, and Chelsea remains optimistic about reaching an agreement, according to reports from The Times. This wouldn't be the first time for Chelsea; they previously agreed on an £8.6 million financial settlement with UEFA back in July 2023 after submitting incomplete financial information.
A source revealed that these negotiations are ongoing and involve events that occurred years before Todd Boehly and Clearlake became involved with the club. It was their due diligence that brought these irregular payments into light.
Typically, such secret payments relating to transfers would lead to severe sanctions like points deductions. However, Chelsea argues that any rule breaches occurred under different ownership a decade ago.
Proactive assistance in investigations
In a statement released by Chelsea in 2023, they acknowledged "potentially incomplete financial reporting concerning historical transactions during the club’s previous ownership". These issues were raised during Boehly's and Clearlake's takeover process - they have been “proactively” assisting investigations since then.
Chelsea released statement in 2023:
“These allegations pre-date the club’s current ownership. They concern entities that were allegedly controlled by the club’s former owner and do not relate to any individual who is presently at the club. Immediately following the completion of the purchase, the club proactively self-reported these matters to all applicable football regulators.”
The Premier League’s rulebook allows for a “sanction agreement” between its board and a club which must then be ratified by its Judicial Panel. Previously, it was reported that the Premier League was investigating alleged irregular payments related to the transfers of Willian and Samuel Eto’o, who were signed by Chelsea in 2013. Similar payments regarding Eden Hazard's signing in 2012 have also been under investigation.
Chelsea is working diligently with the Premier League to reach a financial settlement over undisclosed transfer-related payments made during Abramovich's ownership. The club hopes their transparency and cooperation will help them avoid a potential points deduction that could impact their league standing.
